At an online presentation, the company displayed the U8, a plug-in hybrid off-road SUV, and the U9 electric supercar.

“The Yangwang brand will take the lead within our group in applying advanced technology. We will provide our customers with the highest degree of safety, performance and experience,” said BYD chairman Wang Chuanfu at the event.

The U8 features technology that can control each of the four wheels separately with independent motors to enhance stability and safety.

No official price or release date was announced. The company had previously said that Yangwang models would be priced at 800,000 yuan to 1.5 million yuan (US$116,000 to US$217,000) and would be released sometime this year. Showrooms for luxury vehicles will be set up in six major Chinese cities, including Beijing and Shanghai.

BYD’s electric vehicles and plug-in hybrids mainly fall in the 100,000 yuan to 200,000 yuan range and have been popular among middle-income earners for their affordable prices.